Australia opens doors to foreign investment

The Australian Government has now introduced a new Visa stream called the Premium Investor Visa (PIV), which allows foreign entrepreneurs and innovators to gain access to a permanent residency in Australia for a minimum $15 million investment. Applicants of the PIV can apply by invitation only from the Department of Immigration and Border Protection. The Visa represents a new opportunity for those with proven success to secure a permanent residency without having to live in Australia prior.

Eligible investments for a PIV include hosting an investment in an Australian managed fund, direct investment in securities exchange-listed assets, proprietary limited companies, property other than residential dwellings and government approved philanthropic donations. Direct investment into residential real estate is excluded from the PIV, as is loan back arrangements (where the investment is used as collateral by the applicant).

An applicant is only permitted to apply for permanent residency after 12 months of maintaining their investment, but there are no minimum residency requirements at this stage and the applicant does not need to live in Australia at all for the 12 month period.

The PIV has created an exciting opportunity for people looking to invest and eventually live in Australia.